itel Nabs Frost & Sullivan 2018 Growth Excellence Leadership Award
March 4, 2019
Press Release | March 5, 2019itelbpo is the recipient of the Frost & Sullivan 2018 Growth Excellence Leadership Award from among a wide pool of contact center outsourcing companies in Central America and the Caribbean. A global consultancy firm, Frost & Sullivan furnishes companies, including business process outsourcers (BPOs), with research that fosters accelerated growth and innovation. The award is presented to companies that demonstrate their capabilities in maintaining consistently high standards for delivering customer value, which results in growth above the industry average. The widely recognized Growth Excellence Leadership Award lauds itelbpo’s performance in executing forward-thinking growth strategies, C-suite management style, and carefully cultivated value-based culture, among other things. Responding to the announcement of the award, founder and Executive Chairman of itelbpo Epstein said, “To receive such an award means that, as a small company from Jamaica, we are punching above our weight when compared to global industry giants. It reinforces that we are focusing on the right things — our people and our investment in infrastructure.” Frost & Sullivan arrived at its decision after extensive primary and secondary research conducted by its global team of analysts and consultants across various sectors and geographical regions. Their benchmarks were rooted in two key categories: growth performance and customer impact. “Against the backdrop of this research, Frost & Sullivan is pleased to recognize itelbpo as the Growth Excellence Leader in the contact center outsourcing services market,” David Frigstad, chairman of Frost & Sullivan writes in a letter of congratulations. The report highlights “that when comparing 2017 to 2016, itelbpo grew by over 40 per cent while the rest of Central America and the Caribbean only grew 11.7 per cent. The report continues, “Whereas revenue for the BPO industry in Central America and the Caribbean grew by 45 per cent from 2014 to 2017, itelbpo’s revenue increased by 160 percent over the same period.” “To achieve leadership in growth is never an easy task, but it is one made even more difficult considering today’s competitive intensity, customer volatility, and economic uncertainty—not to mention the difficulty of innovating in an environment of escalating challenges to intellectual property. Within this context, your receipt of this award signifies an even greater accomplishment,” Frigstad continues. This is no small achievement for a company that has grown from just seven employees in 2012 to now over 2,000 employees. The first Jamaican-born BPO to establish a global footprint outside of the Caribbean, itelbpo, delivers contact center management and BPO services globally from its five onsite locations—Monterrey, Mexico; Kingston and Montego Bay in Jamaica; Freeport, Grand Bahama, The Bahamas; and Tampa, Florida in the United States (US)—as well as through a robust network of US-based work-at-home agents (WAHA). In 2018 itelbpo acquired Granada Corporation, a customer service provider based in California, US and grew its WAHA network by 35 per cent while improving its bilingual service offering. As the need arises to improve its interaction with customers at a competitive rate, the company will continue to integrate the WAHA model in its growth strategy, having begun a pilot program in The Bahamas that is expected to be rolled out within the next year. Frost & Sullivan also recognizes itelbpo’s investment in technology, such as virtual desktop infrastructure and chatbots, as a key indicator of the company's potential for continued growth noting that this investment should result in a higher level of team efficiency and customer service delivery. By implementing chatbot solutions, the BPO has already increased its sales agents’ conversion rates by approximately three per cent. Founder and Executive Chairman of itelbpo Yoni Epstein also earned commendations from Frost & Sullivan for his on-the-ground involvement in the company and accessibility to both clients and employees, epitomizing Itelbpo’s “people first” culture. “The company’s Founder & Executive Chairman is deeply involved in the business, and clients have that access. Larger service providers lack that level of management, care, oversight, and openness.,” Frost & Sullivan states. In its conclusion, Frost & Sullivan highlights that itelbpo demonstrates a dedication to developing strong agent/customer interactions and excels in driving growth by meeting customer demand and fostering brand loyalty. “The future of itelbpo is bright with its ability to adapt and scale up to keep pace with evolving client needs. This agile Caribbean vendor is leading a wave of growth in customer-centric services,” the report states. “With its passion for people, excellent customer service, and strong overall performance, itelbpo earns Frost & Sullivan’s 2018 Growth Excellence Leadership Award for Central America and the Caribbean in the contact center outsourcing services market,” the report ends.